7) Melissa Banks, owner of the Panda Express, bought a delivery truck for $24,000. The truck has an estimated life of 4 years with a residual value of $5,000. Melissa wants to know which depreciation method will be best for her truck. She asks you to prepare a depreciation schedule using the declining-balance method at twice the straight-line rate.

8) Sam Matthews bought a new delivery truck for $40,000. The truck has a life expectancy of 5 years with a residual value of $5,000. Prepare a depreciation schedule for the sum-of-the-years'-digits method.